Hemp Processing Company Atalo Holdings Files For Bankruptcy
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Atalo Holdings, an industrial hemp processing company based in Winchester, Kentucky, has filed for Chapter 7 bankruptcy. A failed capital commitment left the company unable to pay its creditors, according to Atalo CEO Bill Hilliard.
Hilliard also cited “confounding guidance’ from regulatory agencies, unforeseen market forces and other challenges,” the Lexington Herald Leader reports.
Related: GenCanna Global Files For Chapter 11 Bankruptcy
Atalo is the third Kentucky-based hemp company to file for bankruptcy in 2020. Sunstrand, which specialized in using hemp fiber in a variety of materials, and GenCanna Global, a hemp processor, also filed for bankruptcy this year.
See more on Atalo Holdings from the Lexington Herald Leader››